Allegiant Travel prepays $125 million senior secured term loan

By Tali Rackner

Norfolk, Va., April 14 - Allegiant Travel Co. said it prepaid its $125 million senior secured term loan facility that was scheduled to mature in March 2017, according to a news release.

In addition, the company borrowed $45.3 million from Wells Fargo Bank.

Both transactions occurred on April 11.

"This decision allows us to refinance more expensive debt and also provides flexibility to maintain future fleet growth as well as return cash to shareholders," chairman and CEO Maurice J. Gallagher, Jr. said in the release.

"We are pre-paying our term loan with a payout of the balance of $121.3 million. After giving effect to these two deals, our total debt balance will be $149 million, which improves the company's already strong balance sheet."

Allegiant Travel is a Las Vegas-based leisure travel company.

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